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8-K
WASHINGTON PRIME GROUP INC. filed this Form 8-K on 07/26/2018
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NON-GAAP PRO-RATA FINANCIAL INFORMATION
 
 
PROPORTIONATE SHARE OF UNCONSOLIDATED PROPERTIES - BALANCE SHEET
Washington Prime Group Inc.
(Unaudited, dollars in thousands)
 
 

 
 
 
 
 
 
 
 
 
June 30, 2018
WPG's Share of Unconsolidated Entities
 
Assets:
 
 
 
Investment properties at cost
 
$
1,163,607

 
Construction in progress
 
26,280

 
 
 
1,189,887

 
Less: accumulated depreciation
 
184,682

 
 
 
1,005,205

 
 
 
 
 
Cash and cash equivalents
 
14,746

 
Tenant receivables and accrued revenue, net (see below)
 
15,507

 
Deferred costs and other assets (see below)
 
79,518

 
Total assets
 
$
1,114,976

 
 
 
 
 
Liabilities and members' equity:
 
 
 
Mortgage notes payable
 
$
638,240

 
Accounts payable, accrued expenses, intangibles, and deferred revenues (see below)
 
72,469

 
Total liabilities
 
710,709

 
Members' equity
 
404,267

 
Total liabilities and members' equity
 
$
1,114,976

 
 
 
 
 
 
 
 
 
Supplemental Balance Sheet Detail:
 
 
 
 
 
 
 
Tenant receivables and accrued revenue, net:
 
 
 
Straight-line receivable
 
$
8,874

 
Tenant receivable
 
4,932

 
Allowance for doubtful accounts, net
 
(1,145
)
 
Unbilled receivables and other
 
2,846

 
Total
 
$
15,507

 
 
 
 
 
Deferred costs and other assets:
 
 
 
Deferred leasing, net
 
$
15,021

 
In place lease intangibles, net
 
25,869

 
Acquired above market lease intangibles, net
 
24,450

 
Mortgage and other escrow deposits
 
11,092

 
Prepaids, notes receivable and other assets, net
 
3,086

 
Total
 
$
79,518

 
 
 
 
 
Accounts payable, accrued expenses, intangibles and deferred revenues:
 
 
 
Accounts payable and accrued expenses
 
$
26,512

 
Below market leases, net
 
31,910

 
Other
 
14,047

 
Total
 
$
72,469

 
 
 
 
 
Note: The amounts above represent the company's pro-rata share based upon the percentage of ownership interest per joint venture entity, but it should be noted that the company does not control the unconsolidated entities.

SUPPLEMENTAL INFORMATION | 22

©2013- WASHINGTON PRIME GROUP